Esports Betting - Sweden | Statista Market Forecast

In Sweden, revenue in the Esports Betting market market is projected to reach US$44.0m in 2024.
The revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.09%, which will result in a projected market volume of US$56.3m by 2029.
Although most revenue is generated the United States, in Sweden is also a significant player in this market.
The average revenue per user (ARPU) in Sweden is expected to amount to US$125.9.
In Sweden, the Esports betting market is rapidly evolving, reflecting the nation’s strong gaming culture and increasing regulatory support for online gambling.

Definition:

Esports betting refers to the act of placing wagers on competitive video gaming events. It involves predicting the outcomes of Esports matches or tournaments and placing bets on various aspects, such as the winning team, individual player performances, or specific in-game events. Esports betting has gained significant popularity, with dedicated platforms and bookmakers offering odds and opportunities for enthusiasts to engage in this form of gambling related to the rapidly growing Esports industry.

Additional information:

Data includes revenue figures in Gross Gambling Revenue (GGR), which is the total amount of bets placed by customers minus the amount paid out in winnings, Users, average revenue per user (ARPU), user penetration rate, and a breakdown of revenue shares of the total betting market. User and revenue figures represent B2C services.

Online betting on the outcome of various Esports matches in games such as League of Legends, Dota 2, CS:GO, etc.
Betting on the overall winners of Esports tournaments in games such as the Dota 2 International or the League of Legends World Championship
Betting on specific events or outcomes in an Esports game, such as the first team to score, the number of kills a player will get, or the length of a match

Online betting on non-Esports related sports, such as football or tennis matches
Offline betting on Esports, such as betting in a physical store

The Esports Betting Market in Sweden has been steadily growing due to the rising popularity of eSports and the convenience of online betting. However, the market's growth rate has been subdued due to strict regulations and limited acceptance of eSports as a legitimate form of competition in the country.

Customer preferences: As the popularity of esports continues to rise in Sweden, so does the interest in esports betting. This trend is driven by younger generations who are more digitally savvy and seek new forms of entertainment. Additionally, the growth of mobile gaming and the rise of live streaming platforms have made it easier for consumers to access and participate in esports betting, leading to a surge in demand for online betting platforms and services. The shift towards digital platforms is also influenced by the convenience and accessibility it offers to consumers who are looking for new and exciting ways to engage with their favorite esports teams and games.

Trends in the market: In Sweden, the Esports Betting Market within the eSports Market is experiencing a surge in popularity, with an increasing number of players and viewers. This trend is expected to continue as esports continues to gain mainstream recognition and betting on esports becomes more widely accepted. This has significant implications for industry stakeholders, including esports teams, game publishers, and betting operators, as it opens up new revenue streams and opportunities for partnerships. Additionally, the growth of esports betting in Sweden could lead to further regulation and licensing of the industry, providing a more secure and regulated environment for both players and bettors.

Local special circumstances: In Sweden, the Esports Betting Market has been influenced by the country's long-standing passion for gaming. With a highly tech-savvy population and one of the highest internet penetration rates in the world, Sweden has seen a rapid growth in the Esports Betting Market. Additionally, the country's progressive regulatory environment and strong support for the gaming industry have contributed to the popularity of Esports Betting in Sweden. The market is also unique in its focus on sustainable and ethical gaming practices, reflecting the country's values and cultural norms.

Underlying macroeconomic factors: The Esports Betting Market within the eSports Market in Sweden is heavily influenced by macroeconomic factors such as global trends in digital entertainment, the country's strong economic health, and regulatory support for the esports industry. With a highly developed digital infrastructure and a thriving gaming culture, Sweden is well-positioned to capitalize on the growing popularity of esports betting. Additionally, favorable fiscal policies and investment in esports infrastructure have further boosted market growth. Furthermore, the rising demand for digital entertainment and the increasing adoption of esports among younger generations are also driving the growth of the Esports Betting Market in Sweden.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Esports betting market, which comprises revenues from online betting on Esports events. All figures are based on net revenues and exclude agency commissions, rebates, and production costs.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

The rapidly growing phenomenon surrounding eSports continues to gather steam. The intersection of gaming and sports offers an innovative wave of branding opportunities, engaging content and activations for millions across the world. It therefore comes as no surprise that the size of the global eSports market is expected to increase more than fivefold between 2023 and 2032, reaching a value of over 10 billion U.S. dollars within the next ten years.